[Market News 14/08/2024] CSV SETS NEW 52-WEEK HIGH

Some important notes:

– The VN-Index has recovered well from MA(200), and that is fundamentally a good sign. However, this recovery clearly seems to be repeating a similar pattern to the April 2024 recovery, with low liquidity and rotational price increases.

– The current medium-term resistance level is 1,260 points (short-term resistance is 1,240 points). Breaking this resistance could change the market’s medium-term trend. Theoretically, it is completely normal for investors to worry about another decline or a retest of the second bottom, and graphically, we also see such a probability. However, if there is no significant decline in another week, we may see large capital flows return to the market.

– CSV breaking its 52-week high is also a good sign. In the current context, we need to see an increase in the breadth of the group breaking highs and the breadth of the group of stocks forming double bottoms with positive divergence. Both of these factors, combined with a few large stocks showing medium-term breakthroughs, will be the determining factors that the market’s medium-term bottom has been established, and that will be a new buying point for market-watching investors.

?? See more: here.

SOURCE: AAS RESEARCH

admin

AAS